Numinus Wellness Inc. Reports Q4 and Year End 2021 Results

“During the fourth quarter we were focused on building the team, infrastructure, technologies and protocols that will allow us to scale our business over the next several years,”  “We welcomed several new key executives, began our laboratory expansion, and filed a patent for a proprietary rapid production process for psilocybe.”

Payton Nyquvest, Founder and CEO.

• Cash balance of $59.2 million as of August 31, 2021
• Revenues grew 81.1% year-over-year to $0.5 million in Q4 2021, due primarily to the acquisition of Mindspace.
• Gross profit of $31,818 in Q4 2021, compared to gross loss of $158,222 in Q4 2020
• Loss was $7.8 million for Q4 2021, which included a $1.6 million non-cash goodwill impairment charge related to the acquisition of Mindspace¹.

• Revenues grew 71.8 % year-over-year to $1.5 million in fiscal 2021, due primarily to the acquisition of Mindspace.
• Gross loss of $81,538, compared to gross profit of $88,047 in fiscal 2020
• Loss was $18.8 million for fiscal 2021, which included a $1.6 million non-cash goodwill impairment charge related to the acquisition of Mindspace¹, compared to a loss of $9.6 million in fiscal 2020.

• Q4 2021 revenue of $90,593, a decrease of 66.7% from Q4 2020. This is primarily due to the Company ceasing cannabis related activities during the year to dedicate resources towards advancing psychedelic-centered service offerings – including psychedelic analytical testing and contract laboratory services, to align with the Company’s strategy and overall objectives.
• In June 2021, the Company filed a provisional patent application with the United States Patent and Trademark Office for a proprietary rapid production process for psilocybe and other psychoactive fungi species. This process dramatically increases the production of therapeutics for use in psychedelic-assisted psychotherapy and leads to standardized psychedelic extracts that are reproducible, scalable, cost-effective and commercially viable.
• In July 2021, Numinus received Health Canada approval for the MAPS-sponsored, single-arm, open-label safety and feasibility study evaluating MDMA-assisted therapy for PTSD.
• During the quarter, Numinus began the 7,500 ft. expansion of its psychedelics research facility, including the building of an additional laboratory. An application for federal licensing for the additional lab was submitted in September 2021. The new space (adjacent to Numinus’ existing laboratory) will be dedicated to the following services:

• On October 24, 2021, Numinus announced it finalized the study design and protocol for a Phase 1 clinical trial on a naturally derived Psilocybin extract. This major milestone advances Numinus’ investigation of its first proprietary psychedelic product, which was developed using a patent-pending technology.
• On November 10, 2021, the Company announced it will host the Montreal and Vancouver sites of the MAPPUSX study, which will continue to study the safety and efficacy of MDMA in treating severe PTSD, titled “A multi-site open-label extension study of MDMA-assisted psychotherapy for PTSD.”
• On November 29, 2021, the Company announced that Numinus Bioscience developed proprietary psychedelic drug tests with new toxicity and potency scans. These new analytical tests will accelerate Numinus’ research and development capabilities and generate new revenue streams through third-party client product testing.

• Q4 2021 revenue of $400,306, a 100% increase compared to nil during the same period last year when Numinus’ only clinic at the time was closed due to COVID-19.
• As at August 31, 2021, Numinus Health had four wellness clinics across Canada (one in Vancouver and three in Montreal) that had a total of 16 treatment rooms.
• During Q4 2021, 650 individual clients received a total of 2,671 therapy appointments through Numinus Health clinics (including one-on-one and group therapy sessions). In the three months following (during fiscal Q1 2022) the total number of client appointments at these same clinics grew by 42% to 3,792 (including one-on-one and group therapy sessions, and Ketamine-assisted psychotherapy).

• On September 23, 2021, Numinus completed the acquisition of the Neurology Centre of Toronto (“NCT”) for $1.0 million, allowing for the planned expansion of NCT into a comprehensive neurologic care center specialized in psychedelic neurology.
• On November 10, 2021, the Company announced that it had secured two additional clinic locations in Vancouver and Montreal that will primarily be used for clinical research studies in the near-term. The locations are already fully compliant with Health Canada regulations and can be seamlessly converted to client facing wellness clinics in the future.
• As of December 9, 2021, Numinus has five wellness clinics offering services to clients (one in Vancouver, one in Toronto, and three in Montreal) that have a total of 21 treatment rooms. In addition, the company has two dedicated research clinics where psychedelic studies are being conducted (one in Vancouver and one in Montreal).

• During Q4 2021, Numinus expanded its management team with new executive appointments in Marketing, Clinic Operations, Human Resources and Investor Relations.

• On November 22, 2021, the Company changed its OTC ticker symbol to “NUMIF” (from “LKYSF”) to better align with its Canadian ticker symbol.
• On November 25, 2021, Numinus received conditional approval to graduate to the TSX (from the TSXV), with the first day of trading scheduled for approximately December 16, 2021.